3 Important Business Challenges You Should Tackle Now

Larry Alton

Once you reach the top of the corporate food chain, delegation becomes your natural instinct. When a problem or a business challenge arises, your responsibility isn’t always to solve it, but often to executive tackle business challengesfind the right person who can solve it. And while there’s certainly a need for delegation, your business could also benefit from you getting involved at the ground-level.

As an individual of influence in your company, it’s sometimes up to you to jump-start processes and make things happen. Here are a few issues you must commit to taking head on:

1. Employee retention

Employees come and go all the time. That’s just part of the modern workforce where people prefer to jump around and try new things. However, you shouldn’t simply accept turnover as a foregone conclusion. If you aren’t doing everything you can to increase employee retention, now is the time to shift your focus.

Leigh Branham, a career transition coach for 20-plus years, has identified seven hidden reasons for high turnover rates in the contemporary workplace. These include things like the job isn’t what the employee expected when hired, the employee and company don’t match up, employees feel devalued or underappreciated, there’s not enough company training, and employees are overstressed.

Each of these reasons is a major issue in its own right and must be thoroughly dealt with. By identifying which of these may be the culprit for high turnover in your organization, you can greatly improve your understanding of the business.

2. Online conversions

It may not seem like something as serious as retaining employees, but online conversions on your website and landing pages are critical. They’re the lifeblood of your online strategy, and attention must be given to how well marketing messages and content are being received.

If your background is more traditional marketing, it can be difficult to understand all of the jargon and acronyms used by your marketing and analytics teams. However, it’s important that you familiarize yourself with metrics like TOS (time on site), bounce rates, and conversion rates. By improving the amount of conversions on your site, your business can see a direct impact on the bottom line.

3. Information security

If you’re not technically minded, it’s difficult to get really excited about information security. After all, it’s challenging to see the immediate ROI. But, don’t think that way. You need to place a heavy emphasis on information security, because the risks of not doing so are far too high.

Meeting with your IT security team should be a priority. They can explain what risks are out there, how money will be spent, what security means to your partners and customers, and how your business can develop responsive strategies that prevent data loss and privacy issues.

Progress starts at the top

As a top-level exec, if you aren’t directly involved with these issues, something’s out of place. It’s time to make things like employee retention, online conversions, and information security major emphases of your business – and it starts with you.

Want more management strategies that get results? See 6 Managing Skills That Companies Take for Granted.

About Larry Alton

Larry is a freelance marketing & technology consultant with a background in IT. Follow him on Twitter @LarryAlton3.